List Of Top 10 Lowest Currency in the World 2017
Are you interested in knowing what or which country has the lowest currency in the world ? If yes, you just arrived the right place. Most people know Pounds, Euro and Dollar as some of the strongest currencies in the world but ask them about the lowest or weakest ones and they keep mute. This post would discuss the top 10 lowest currency in the world 2017.
Currencies are very essential and are regarded as part of the symbols which distinguish countries, regions, etc. from each other all over the continents of the earth. You could imagine a world where a single currency dominates the monetary floor; where you can tender one kind of currency whether you’re within your country or beyond the precincts of your fatherland.
However, the world is not only delicate through its immense span, but also for the diversity that occurs in the currencies, languages, cultures and many other things which serve as the bases for inter-relationship amongst humans. Precisely on a daily basis, we go to the market and obtain goods in exchange for our money. For this reason, we’re familiar with the dominant currency in our country and the value it commands as a means of exchange. However, little is what some of us understand about the currencies of many other nations and their exchange rates (the values at which they are exchanged for each other).
Taking a little bit of digression, Here, we present you a list of the world’s weakest currencies with the least exchange rates, particularly when compared with the U.S dollar.
List Of Top 10 Lowest Currency In The World
1. IRANIAN RIAL
The Iranian Rial is the currency of Iran and it is the weakest currency in the world. 32037 Iranian Rial is exchanged with 1 US dollar. This is an irony considering the fact that Iran is blessed with oil. But then, the Iran-Iraq war, Israeli attack as well as the sanctions (very important one is not being able to export oil) from the world superpower are the reason for making the Iranian currency weak.
Code – IRR
2. SAO TOME AND PRINCIPE DOBRA
The Sao Tome and Principe Dobra is the official currency used in Sao Tome and Principe, Island countries in West Africa. These countries are into the exportation of Coffee, Cocoa and Coconut. The profit generated from these is not enough to supporting the economy at the appropriate level. The currency is exchanged 23081 Sao Tome and Principe Dobra to 1 USD. There’s hope for this currency to increase in strength as oil had been discovered in Sao Tome.
Code – STD
3. VIETNAMESE DONG
The Vietnamese Dong is the third lowest currency in the world, it is the currency of Vietnam, a socialist country in South East Asia. 22482 Vietnamese Dong is exchanged with one dollar. Vietnam is still on its hard path from the centralized economy type to the market one and consequently, it currency almost devalued today. However, experts insist that Vietnamese Government is going the right way and soon it can catch up with its closer Asian neighbors.
Code – VND
4. BELARUSIAN RUBLE
Belarusian republic is the emigrant country after USSR collapse in 1992. This country created its own national currency known as Belarusian Ruble that is still falling as per its exchange rate (currently, 1 USD = 20486 Belarusian Ruble). High taxes and inflation as well as corruption and political restrictions led to significantly low price for this currency inside the global market.
Code – BYR
5. INDONESIAN RUPIAH
Unexpected on our list of top 10 lowest currency in the world. Simply put, Indonesia is economically stable and developed country in South East Asia, though the currency has a low exchange rate, despite all effort to make it strong by the economic team of the country. A USD is worth 13425 Indonesian Rupiah.
Code – IDR
6. LAO KIP or LAOTIAN KIP
Lao Kip was initially introduced with a very low exchange rate. 8263 Lao kip is exchanged with 1 USD. In recent years, this currency is gradually increasing in value.
Code – LAK
7. GUINEAN FRANC
The Guinean Franc is the currency of Guinea, a country in Africa. Considering the natural resources of the country such as gold, adamant and aluminum, the country’s currency is supposed to be of high value but due to the high inflation rate as well as the progressing poverty and gangsters prosperity, the currency is being devalued. 9120 Guinean Francs are exchanged for 1 USD.
Code – GNF
8. PARAGUAYAN GUARANI
Paraguay is the second poorest country in South America. It is characterised by what can be said to be a disastrous economic downturn. High rate of inflation, corruption, low education quality, enormous number of poor people, high unemployment rate, etc are the problems bedeviling the country. Paraguay exports cotton and soybean but this is hardly enough to cover expenses. 5757.5 Paraguayan Guaraní is equal to 1 USD.
Code – PYG
9. SIERRA LEONEAN LEONE
Sierra Leone is a very poor African country which handled out many serious tests and this caused the local currency to devalue. The country has also experience war and also the outbreak of the Ebola Virus. 5605 Sierra Leonean Leone is exchanged with 1 USD.
Code – SLL
10. CAMBODIAN RIEL
The Cambodian Riel is the currency of Monarch State in South East Asia. Currently tenth on our list of top 10 lowest currency in the world, It was implemented in 1995 to change Indochinese Piaster. Even when it was introduced, Riel had a low exchange rate and was not popular among locals who had decided to use foreign currencies (USD) for payment. This had led to the currency being devalued. 4016 Cambodian Riel is exchanged for 1 USD.
Code – KHR
So we just reviewed the top 10 lowest currency in the World 2017 and the importance of understanding the exchange rates of world’s weakest currencies. You could imagine featuring amongst the richest personalities in your country, whereas you’re worth not an iota of another rich man’s money. This might seem incredible to you if you don’t know how valuable your country’s currency is when compared with foreign currencies. And quite humorously, a U.S citizen who works as a cleaner and earns few dollars as part of low-class earners could come to Nigeria or a number of other African countries and pose as a rich person.
This remains so because diverse currencies are more valuable than each other. At the same time, the value a certain currency commands when compared with other prestigious currencies remains the actual determinant of a person’s financial worth.
In the world of today, the monetary arena is undoubtedly dominated by prestigious currencies such as the British Pounds Sterling, the U.S dollar, the Chinese Yen and many others.
As this post further enlightens you on the worth of your country’s currency, we’re sure you now realized that what seems phantom in one country could turn out to be a piece of debris (or any valueless object you could mention) in another country. As many countries are differentiated by economic systems and the currencies in place, one might find it hard to estimate his worth even when he doesn’t have more than a single token.
Meanwhile, the value of world currencies is greatly determined by factors affecting world trade and exchange activities. Quite frankly, factors such as inflation, recession, etc. are no exceptions.
That’s all on ” List Of Top 10 Lowest Currency in the World 2017 “, share your thoughts and suggestions with us trough the comment box and like us on facebook @ facebook.com/9jaquest or follow us on twitter @ twitter.com/NaijaQuest.
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